Louisiana Revised Statutes 47:299 – Nonseparability
Terms Used In Louisiana Revised Statutes 47:299
- person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
- Taxable year: includes , in the case of a return made for a fractional part of a year under the provisions of this Chapter or under regulations prescribed by the collector, the period for which return is made. See Louisiana Revised Statutes 47:98
It is the intention of the legislature in enacting this Part to recognize the most universally accepted method of determining taxable income and to provide a simple method by which an individual subject to the income tax laws of the state of Louisiana may determine the amount of tax due with minimum effort and expense. If any provision of this Part, or the application thereof to any person or circumstance is held invalid under the constitution of the state of Louisiana or of the United States, the remainder of the Part shall cease to be effective for any taxable year ending after judgment of the court of last resort becomes final, and the provision of Part I and Part II of this Chapter relating to individual taxpayers shall become fully effective with respect to any such year.
Acts 1980, No. 316, §1.